sun corp. operates a manufacturing plant in Montana. Due to a significantOn April 11, 2021, the Cool Mining Company purchased the rights to a coal mine. The purchase price plus additional costs necessary to prepare the mine for extraction of the coal totaled $4,800,000. The company expects to extract 800,000 tons of coal during a four-year period.

During 2021, 120,000 tons were extracted and sold immediately.

Required: Calculate depletion for 2021.